21st May 2020
Long to be beside the seaside? Auction is the place to bag a beach-side bargain
After weeks of lockdown, Rightmove has reported a surge in searches for coastal properties by beach-starved homeowners – and auction could be the place to bag a bargain.
SDL Auctions, one of the country’s most successful property auctioneers, has several seaside retreats going under the hammer in its May auction, many of which have *guide prices under £100,000.
Lots are spread as far and wide as the coasts of Yorkshire, Lancashire, Lincolnshire, Hampshire and Cornwall, and include houses, flats and maisonettes.
Andrew Parker, managing director and auctioneer at SDL Auctions, said: “Lockdown has reinforced the long-held belief about property that location is everything. When you stay at home for weeks on end, your surroundings really matter – so what could be better than having the beach nearby for a socially distant walk or run?”
Buyers looking for a coastal investment or a place of their own by the sea should check out these lots going under the hammer in SDL Auctions’ bumper national property auction on Thursday 28th May. Bids can be made by proxy, by telephone or over the internet.
Flat 8, 33-35 St Annes Road in Bridlington, with a guide price of £45,000+, is a smart second-floor flat which would make a great ‘lock-up-and-leave’ property or a good addition to a rental portfolio.
Recently refurbished to include a new kitchen and shower room, the one bedroomed leasehold property has views across the promenade and seafront and is within a couple of minutes’ walk of the beach. It has gas central heating, uPVC double glazing and comprises a hallway, lounge, kitchen, bedroom and shower room.
22 Regent Road in Blackpool, which has a guide price of £45,500+, is a three-storey former guest house with eight bedrooms. It requires refurbishment but has the potential for various development opportunities, including flats or as a single dwelling, subject to the necessary planning permissions.
It currently features a hallway, former bar and lounge, dining room, kitchen and pantry on the ground floor, five bedrooms on the first floor and three further bedrooms on the second floor. Outside there is parking at the front and an enclosed rear yard.
The property is just a 10-minute walk to the promenade, Blackpool’s famous North Pier and its wide array of shops and leisure amenities.
Andrew said: “This property may need a little TLC to bring it up to modern standards but has the potential to be a high-yield investment in one of the country’s most popular tourist resorts.”
12, 14, 16 and 14a Tennyson Road in Mablethorpe is a mixed-use lot offering multiple income streams with a guide price of £66,000+.
It features three ground-floor shop units, all currently let and producing a combined annual income of £10,030, and a first-floor self-contained flat, which currently realises £3,900 per year. A second first-floor flat was sold in last month’s auction for £23,000 from a guide price of £15,000+ and continues to produce £150 per year from the leasehold.
Andrew said: “This property is ideal for the savvy investor, as you get several incomes for the price of one. And being located so close to Mablethorpe’s busy town centre means the property will retain its appeal to commercial and residential tenants.”
Since the start of lockdown, SDL Auctions has raised more than £17 million for sellers. It has switched all of its room auctions to monthly national property auctions broadcast live over the internet, with the next one taking place on Thursday 28th May.
Andrew Parker will be at the rostrum, accompanied in the auction studio by his wife, Rachael, who is the regional property manager for the East Midlands, managing internet bids. A remote team will handle telephone bids.
Bids can be placed remotely by proxy, by telephone and on the internet. To register for remote bidding, please click here or call the team on 0161 774 7333.